The SEC has charged the ex-CEO of a Goldman Sachs-backed tech company with running a $67 million securities fraud
The Securities and Exchange Commission on Tuesday charged the former CEO of a tech company backed by Goldman Sachs with fraudulently selling millions of dollars worth of securities to support his"lavish lifestyle."it charged Christopher S. Kirchner, the co-founder of Slync, a privately held logistics software company, with fraudulently offering and selling more than $67 million of securities to multiple investors.
Kirchner"misappropriated" more than $28 million for his personal benefit, the agency said in a statement. "We allege that Kirchner lied about Slync's business to secure tens of millions of dollars from investors, a massive portion of which he then stole from the company to live extravagantly while not paying Slync's employees," Sheldon Pollock, associate director of the SEC's regional office in New York, said in the statement. , saying images and video footage it had obtained showed at least a dozen federal agents entering his"opulent" home.
Forbes said other images it had received showed a Mercedes G Class and a Rolls Royce Collinan SUV being towed from Kirchner's property. A spokesperson for the FBI's office in Dallas confirmed agents visited the property but wouldn't say whether Kirchner had been arrested or charged, the report said.
Kirchner could not be reached for comment by Forbes, and a family member did not respond to a request for comment. Slync did not respond to a Forbes request for comment.
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